Vedanta Chairman Unveils $20 Billion Investment Plan, Steel Business to be Sold at Right Price

Anil Agarwal, Chairman of Vedanta Group, announces a $20 billion investment plan for the next four years, focusing on technology, electronics, and glass businesses.

  • Anil Agarwal, Chairman of Vedanta Group, announces a $20 billion investment plan for the next four years, focusing on technology, electronics, and glass businesses.
  • Agarwal reveals the group’s intention to sell the steel business only at the right price, emphasizing commitment to continue running it if necessary.
  • Amid discussions on debt concerns and environmental impact, Agarwal highlights the group’s profitable steel business and its dedication to responsible mining practices.

Anil Agarwal, Chairman of Vedanta Group, has unveiled an ambitious $20 billion investment plan for the next four years, with a strong focus on technology, electronics, and glass businesses. Emphasizing the importance of semi-conductors and glass in future industries like smartphones and laptops, Agarwal highlights the group’s existing presence in these sectors and plans for local capacity building.

Despite initial plans for the sale of the steel business, Agarwal asserts that Vedanta will only proceed if the right price is offered, affirming a commitment to continue operating the business if necessary. Addressing concerns regarding the company’s debt, Agarwal reassures stakeholders, stating that Vedanta’s overall debt stands at $12 billion, manageable within the group’s financial framework.

Amid discussions on mining’s environmental impact, Agarwal advocates for responsible practices while expressing optimism about India’s investment climate. Additionally, he hints at potential investments in the entertainment sector, signaling Vedanta’s diversified interests in line with global corporate trends. Agarwal underscores the need for policy support to foster growth, particularly in his home state of Bihar, positioning Vedanta as a catalyst for economic development.